One of the biggest misconceptions that plague the insurance industry, is that the person or company that is renting you a place to live is somehow responsible for the things inside of your home. As a tenant, your insurance needs are in two very different categories of protection. Let’s take the most obvious, and the one that makes the most sense. You own “STUFF”. If you were to lose your “Stuff” because of theft, fire, broken water pipes… etc., Chances are that you will need to replace the items with new Stuff. Every Christmas, without fail, I watch the news on TV and see the night time picture of fire engine lights flashing and in the background you see the apartment complex that has just sustained a fire. There is always someone holding a child, usually in the rain or snow, and the TV anchor person , asking , “What are you going to do?” The response is the same…, “I have no place to stay and all my stuff has been destroyed.”

I want you to know that I have the biggest heart in the entire world, and I would not want this scene to play out in anybody’s life… but for $12.50 per month, (less than the cost of a pizza) you can protect yourself and your family from this senseless position. A renter’s insurance policy will give you a place to stay, it will provide the new clothes, TV, Beds and furnishing that you have accumulated. When I see this scene play out year after year, I think to myself, “maybe you just can’t fix stupid.”

If you own and insure a car at the same time you are renting a place to live, the savings that a renter’s insurance policy will give to your car policy is probably close to paying for the renters insurance policy. This is the biggest “No Brainer” purchase every renter should make!!

The second area of protection that the renters’ insurance policy provides is the one called Liability insurance. Because liability insurance is included in a renters’ policy, many apartment manager’s and Rental Dwelling owners are requiring their tenant’s to buy renter’s insurance. Here is why. Imagine making dinner, and you just added the ground beef to the skillet. The phone rings, and you take the call. We have all been in this situation before! You step out of the kitchen to get on with the call, and 20 minutes later the smoke detector is going off and the smoke is so dense in the kitchen you can’t see. Can you guess who is going to be responsible for the damages that were done to the apartment or home in this instance? YOU ARE. If you have a renter’s insurance policy in force, not only does it cover the damage that you caused to the building because of the fire, but you won’t be standing outside with the TV New crew letting the world know that you have no place to stay, and nothing to wear. You will be one of the folks talking on your cell phone, making arrangements with your insurance company for a hotel room  and an emergency cash disbursement so that you can pick up a toothbrush and a change of clothes until the claim can be settled.

To find out more about renter’s insurance, please fill out one of our free Arizona Renters Insurance Quote forms.

1. New business discount: May offer you a discount as a new policyholder if you have been accident-free for a specific period of time.
2. Accident-free: Policyholders who have been accident-free while being insured with the same insurance company for several years may be eligible for reduced premiums.
3. Discounts for other insurance lines: Premiums may be reduced if you insure your home, life or health with the same company that covers your car.
4. Multiple cars: Premiums may be reduced if there are two or more private passenger cars in the household insured by the same company.
5. Air bag/passive restraint: Cars that are 1993 or older and are equipped with air bags or automatic seat belts may receive this discount. Certain makes and models of newer vehicles may receive the Vehicle Safety Discount because of the lower medical payments associated with them. The Vehicle Safety Discount is for autos 1994 or newer. Certain makes and models may have a decrease in their premiums because of lower medical payments associated with those specific makes/models.
6. Antitheft devices: Some insurance companies offer discounts on comprehensive coverage premiums when certain antitheft devices are installed or built into a vehicle.
7. Defensive driving course: Premium discounts sometimes are offered for the voluntary completion of specified driver improvement courses.
8. Good student: Full-time students (high school or higher level) maintaining at least a “B” average may qualify for reduced premiums with many companies.
9. Longevity Discounts: Length of time you have been with an insurance company may also afford you a reduction in premiums. This is a good reason to keep in contact with your current carrier to see if you are approaching another discount and allows for the opportunity to review your file for things that may have been missed.
10. Low usage of a car can impact the rates. Antique cars, Replicas, cars that are stored and not driven months at a time. All of these may have a special premium with your insurance carrier.
11. Older, less valuable cars, may not need to have Comprehensive or Collision coverage. If the cost for these two coverages represent more than 10% of the value of the car, chances are it is time to review the policy and consider dropping these coverages.

These are just a few of the common discounts offered by insurance companies. For more details contact your insurance company or agent or get a free Arizona Auto Insurance quote today. Above all, drive safe.